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Consumer Lenders › Regulatory Reform › New Legislation

Shipkevich PLLC

New York Legislature Passes Landmark FAIR Business Practices Act: Implications for Consumer Finance Lending and Debt Settlement...

Shipkevich PLLC on

On June 18, 2025, the New York Legislature passed the Fostering Affordability and Integrity through Reasonable (FAIR) Business Practices Act (the “FAIR Act”). This significant legislation marks the most substantial update to...more

Sheppard Mullin Richter & Hampton LLP

Nevada Enacts Law Allowing Remote Licensing for Internet Consumer Lenders

Sheppard Mullin Richter & Hampton LLP on

On May 28, Nevada Governor Joe Lombardo approved SB 437, creating a new framework for internet-based consumer lenders that lend to Nevada residents. The law defines an “Internet consumer lender” as any entity that exclusively...more

Ballard Spahr LLP

Maryland enacts Earned Wage Access legislation

Ballard Spahr LLP on

A new Maryland law deems certain earned wage access (EWA) services to be loans. It then subjects those EWA services to the Maryland Consumer Loan Law and other consumer credit provisions, restricts the acceptance of tips by...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Announces New Regime To Regulate ‘Buy-Now, Pay-Later’ Lending Following October 2024 Consultation

Skadden, Arps, Slate, Meagher & Flom LLP on

In October 2024, HM Treasury (HMT) published a consultation paper amid perceived concerns related to the “buy now, pay later” (BNPL) sector, including uninformed consumer decisions, affordability checks and levels of...more

Katten Muchin Rosenman LLP

Financial Services and Technology: Florida Changes Law to Make Clear that Collection-Related Emails Are Not Included in the...

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On May 16, Governor Ron DeSantis signed bill CS/CS/SB 232 into law. The bill includes modifications to the Florida Consumer Collection Practices Act (FCCPA) to make clear that the prohibition on communications between “9...more

Hudson Cook, LLP

New California Law Impedes Creditors' Ability to Offer Voluntary Protection Products to Military Servicemembers

Hudson Cook, LLP on

California recently enacted Senate Bill 1311, the Military and Veteran Consumer Protection Act of 2022, with the stated intent of strengthening the state's military consumer protection laws by enhancing protections for...more

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